All Compliance Week articles in Web Issue – Page 610
-
Article
Managing Cyber-Risk in the Healthcare Industry
Image: Recent high-profile data breaches at several major healthcare providers have jolted the industry, which is trying to piece together better ways to manage the risks. “As opposed to an organization trying to invest more money in firewalls or other types of technical solutions to protect against an intrusion, at ...
-
Article
SEC’s Latest Extractive Payments Rule Still Leaves Unanswered Questions, Concerns
The Securities and Exchange Commission has once again proposed a rule requiring oil, gas, and mining companies to disclose payments made to governments for extraction rights. And, once again, legal teams are sharpening their pencils while covered companies sweat the details. An earlier try at the Dodd-Frank Act-required rulemaking lingered ...
-
Article
CFPB Critics Focus Fight on Data Collection
Fights over the Consumer Financial Protection Bureau are often focused on critics’ perceived lack of accountability and transparency. In recent weeks, those battles have doubled down on concerns about how the agency collects, protects, and uses data on consumers and financial institutions. CFPB foes say it is collecting more information ...
-
Blog
Two New Partners Join PwC Risk Assurance Practice
PwC recently named two new partners to its Risk Assurance practice: Rick Warren has been appointed as a partner focusing on performance governance risk and compliance, while Khalid Wasti has been appointed as a partner focusing on internal technology audit solutions.
-
Blog
SEC Urged Not to Abandon Political Spending Disclosures
Dozens of senators and members of Congress have sent a letter to the SEC expressing their view that the agency is still free to work on a rule requiring public companies to disclose political spending, despite a provision in the omnibus spending bill that prohibited it from using fiscal year ...
-
Article
The GRC Audit Quandary
A “quandary” is an interesting word meaning: a state of perplexity or uncertainty over what to do in a difficult situation. A quandary is also what many internal auditors find themselves facing when they audit GRC capabilities. This GRC Illustrated column from Compliance Week and OCEG helps auditors answer the ...
-
Blog
SEC Offers a Trial Run of Crowdfunding Filings
Under new SEC rules that take effect on May 16, companies will be permitted to offer and sell securities through crowdfunding. To do so, they must file the required disclosures about the offering on a new Form C. Future filers are now able to submit test filings on the new ...
-
Article
Regulators Suggest It’s Time to Double Down on Internal Controls
Image: After nearly a year of moderating corporate gripes of excessive auditing driven by regulatory inspections, regulators say the answer is for companies to double down on their controls and use a little more muscle with their auditors. “Preparers are on the back end of the compliance funnel,” said Kevin ...
-
Blog
SEC Expands FAST Act Guidance
The Securities and Exchange Commission this week released another round of guidance regarding the recently enacted Fixing America's Surface Transportation (FAST) Act. Compliance and Disclosure Interpretations from the Division of Corporation Finance use its standard question-and-answer format to address the filing of financial statements by emerging growth companies and requirements ...
-
Article
SEC Enforcement Trends to Watch in 2016
Image: A legal analysis of SEC enforcement brought in 2015, along with recent speeches given by SEC enforcement staff, provide a pretty clear roadmap of where the enforcement staff will continue to focus its top priorities in 2016. “Making sure you are addressing those issues in your compliance programs is ...
-
Blog
FASB, IASB Agree on Revenue Recognition Solutions
Guidance on when to recognize revenue on a net or gross basis is expected to be highly consistent across U.S. and international rules when the Financial Accounting Standards Board and the International Accounting Standards Board issue their final amendments.
-
Blog
Seven Habits of Effective Audit Fee Management
Corporate audit fees are rising again. This is probably not news to you. Still, research of why audit fees are rising—and why some companies can continue robust business activity without painfully higher fees—reveals certain practices that do keep fees relatively reasonable. This week, columnist Robert Herz discusses those seven steps ...
-
Blog
What’s Behind the High Rate of Insider Fraud?
Image: According to Kroll’s 2015 Global Fraud Report, close to three-quarters of global companies reported fraud occurences in the past year—81 percent of which were inside jobs. Is employee fear of compliance behind the numbers? “Compliance can be seen as a burden to employees because it is easy to ...
-
Blog
EBA Publishes Final Remuneration Guidelines
The European Banking Authority has published its final guidelines on remuneration policies, but in doing so has postponed the pay rules in the Capital Requirements Directive until 2017 to allow firms more time to prepare for the policies. “In particular, the guidelines set out the governance process for implementing sound ...
-
Blog
Ally Financial Names Chief Risk Officer
Ally Financial, an automotive financial services company, has named David Shevsky as chief risk officer, effective immediately. In this role, Shevsky has responsibility for the risk framework, processes, and oversight for the company. Prior to this position, beginning in 2011, Shevsky served as chief risk officer for Ally Bank, ...
-
Blog
Podcast: PayPal on Fraud Detection, Continuous Monitoring
Image: In the latest edition of the Compliance Week podcast, we chat with Hui Wang, senior director of global risk sciences at PayPal, about security and anti-fraud efforts at the online payment processor and the company’s homegrown system for continuous risk monitoring.
-
Podcast
Podcast: PayPal on Fraud Detection, Continuous Monitoring
In the latest edition of the Compliance Week podcast, we chat with Hui Wang, senior director of global risk sciences at PayPal, about security and anti-fraud efforts at the online payment processor and the company’s homegrown system for continuous risk monitoring.
-
Blog
Being Right, Doing Right, and Ethical Leadership
Image: Corporate America has another example of executive misconduct to ponder as we all break for Christmas: Martin Shkreli, the boorish and now former CEO of Turing Pharmaceuticals arrested on other fraud charges last week. Most of his deeds, Compliance Week editor Matt Kelly says (in his last column as ...
-
Blog
2016 GAAP Taxonomy Ready for Use, Pending SEC Approval
FASB has released its final update of the 2016 GAAP Financial Reporting Taxonomy, pending acceptance by the SEC, to allow public companies to prepare to use it to complete their XBRL filings. The annual update allows FASB staff to make the taxonomy easier to navigate and more effective in reflecting ...
-
Blog
Two Courts—Two Decisions on Whistleblower Protections
Image: A recent court ruling found that employees who reported suspected illegal conduct to their employers rather than to the SEC are entitled to the Dodd-Frank Act anti-retaliation protections. The decision, however, conflicts with a prior court decision, where the court refused to give weight to the SEC’s interpretation of ...